A hole finishing tool includes a shank, a body, and a plurality of cutting inserts. The body extends axially from the shank. The body includes ribs. Each of the ribs include a respective pocket. Each cutting insert is attached to the respective pocket of the respective rib. Each cutting insert includes a cutting edge and a chip breaker pocket. The chip breaker pocket is disposed in a rake face of the cutting insert. The chip breaker pocket includes a front boundary and a chip wall. The front boundary is parallel to the cutting edge. The chip wall is disposed at a rotation angle relative to the cutting edge. The rotation angle ranges between 0 to 50.

A cutting tool for thread cutting has a thread turning cutting insert releasably retained in an insert pocket by a fastening member. The thread turning cutting insert has a thread cutting portion having three spaced apart cutting teeth. and a chip forming groove recessed in an insert upper surface. The chip forming groove includes a near-flank groove surface close to the cutting teeth and far-flank grove surface further away from the cutting teeth. The thread cutting portion includes three cutting edges formed at the intersection of the insert upper surface and an insert peripheral surface. Each cutting edge is located on a respective cutting tooth. The thread cutting portion includes three planar land surfaces located on the insert upper surface. Each land surface extends from an entire length of a respective cutting edge to the near-flank groove surface.